ASIC seeks feedback on Australian digital asset rules
ASIC has proposed licensing, custody, trading and financial standards for digital asset platforms, with the new framework due to begin on 8 April 2027.
The Blocktape Editors 2 min read 5e3844
Australia’s securities regulator ASIC opened a consultation on proposed licensing, custody, trading and financial standards for digital asset platforms on 15 October, ahead of a new framework scheduled to begin on 8 April 2027. ASIC said its proposals would guide firms on complying with the Corporations Amendment (Digital Assets Framework) Act 2026.
In its consultation announcement, ASIC said firms may need to apply for or vary an Australian financial services licence, give customers disclosure documents and platform rules, and meet asset-holding, transaction and settlement standards. Financial requirements would apply where relevant.
What rules has ASIC proposed for platforms?
ASIC’s Consultation Paper 392 proposes guidance for digital asset platforms, which hold digital tokens for clients and provide related services, and tokenised custody platforms, which record clients’ underlying assets as tokens. The package also sets out proposed asset-holding standards, transaction and settlement standards, and financial requirements for operators.
The regulator’s consultation paper covers businesses that provide services for those platforms, as well as existing financial services licensees, market participants and payments providers that use or deal with digital assets. ASIC says the draft legal instruments are preliminary and could change considerably.
When will the new framework take effect?
The Digital Assets Framework Act passed Parliament on 1 April 2026 and received royal assent on 8 April, ASIC said. The new framework is scheduled to commence on 8 April 2027, giving the regulator time to consult on implementation guidance and standards.
When must stakeholders respond?
ASIC will accept submissions until 5 p.m. AEDT on 27 November 2026. It said it will also hold stakeholder events and targeted roundtables during the consultation, while the government develops related regulatory design work in parallel.
Source material
- consultation announcement — asic.gov.au
- consultation paper — asic.gov.au